Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Fethullah Gulen promotes democracy (CBS News)

Fethullah Gulen promotes tolerance, interfaith dialog, and above-all: he promotes education. And yet he’s a mystery man — he’s never seen or heard in public — and the more power he gains, the more questions are raised about his motives and the schools.

[Event of the Week] Gülen breaks his silence, responds to allegations

Having stayed largely silent in the face of relentless attacks amounting to hate speech by beleaguered Prime Minister Recep Tayyip Erdoğan, who was incriminated in a massive corruption scandal, Fethullah Gülen spoke to Today’s Zaman and provided his account of how he sees the recent events in Turkey in his first interview with the Turkish media since Dec. 17.

Gülen calls for broadening freedoms, improvement in Kurdish rights

Well-known Turkish Islamic scholar Fethullah Gülen has encouraged the broadening of rights and freedoms of people and the improvement of ties with Kurds to restore peace and security in areas long plagued by a simmering conflict that has killed at least 40,000 people. Speaking to Rudaw, an online newspaper in northern Iraq’s Arbil, Gülen touched […]

Turkey is gateway to Europe: exporters urged to collaborate with Turkish companies

Confederation of Businessmen and Industrialists of Turkey (TUSKON) is organising a new track of its world famous series of international business summits, more than 2000 visitors from more than 124 countries are expected to participate in the event, expecting business agreements to the tune of $3 billion.

Political predictions for 2014

Prime Minister Recep Tayyip Erdoğan is getting lonelier and this makes him more ill-tempered. There are two big risk areas for Erdoğan. One of them is the total war he declared against the Gülen movement for no apparent reason.

Gülen lawyer dismisses claims in International Herald Tribute report, says allegations unfounded

20 April 2012 / TODAYSZAMAN.COM Turkish Islamic scholar Fethullah Gülen’s lawyer has dismissed claims in a report by the International Herald Tribune and said his client has no hidden agenda. Orhan Erdemli said in a statement on Friday that claims in the article, which accused Gülen supporters of infiltrating into police and judiciary, are unfounded […]

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Needy Romanians provided with aid by students of Turkish school

Erdoğan, Gülen among 10 Turkish figures in Foreign Policy 500 List

Nigerien Minister of Education at Kimse Yok Mu

Journalists and Writers Foundation (GYV) bridging Eastern, Western worlds

Gülen: purge of public officials seems ‘arbitrary’

Kimse Yok Mu reaches out to Syrians in joint project with UNHCR

Turkish School Leader Abducted, and Released, in Mongolia

Copyright 2026 Hizmet News